Canfor

Canfor Corporation is an integrated forest products company based in Vancouver, British Columbia.

Canfor Corporation
TypePublic
TSX: CFP
S&P/TSX Composite Component
IndustryForest Products
FoundedVancouver, British Columbia, Canada
HeadquartersVancouver, British Columbia, Canada
Key people
Don Kayne, CEO & President, Alan Nicholl, Executive VP, Bio-Based Solutions & Pulp Operations,
ProductsForest products
Revenue 5.454 billion CAD (2020) [1]
727 million CAD (2020) [2]
560 million CAD (2020) [3]
Total assets5.109 billion CAD (2020) [4]
Total equity 2.634 billion CAD (2020) [5]
Number of employees
7,111 (2019) [6]
Websitewww.canfor.com

History

The company traces its roots to the late 1930s when brothers-in-law John G. Prentice and L.L.G. "Poldi" Bentley (surname changed from Bloch-Bauer of the famous Bloch-Bauer family of Vienna, Austria) and their families left their native Austria just before the outbreak of World War II. They settled in Vancouver and built a small mill that was the beginning of the more than 75-year-old company.

In 2006, the company was subject to a proxy fight between billionaires Jim Pattison and Stephen A. Jarislowsky, who owned 30% and 18% of the firm's shares, respectively. Pattison won and ousted CEO Jim Shepherd over Canfor's poor performance and declining share price, which saw Jim Pattison appointed interim CEO.[7]

Current status
Financial Information
  2010 2009 2008
Net Sales (C$M) 2, 436 2, 120 2, 610
Net Earnings (C$M) 161.3 -62.8 -345.2

Poldi Bentley's son Peter Bentley (1930-2021) was the Chairman Emeritus of the Board of Directors. Canfor produces softwood lumber, specialty wood products, and engineered wood products. Canfor also owns a controlling share in Canfor Pulp Limited, which produces northern softwood kraft pulp and kraft paper in BC.[8]

As of 2016, the company has an annual production capability of 5.9 billion board feet of lumber, 1.1 million tonnes of northern softwood market kraft pulp, approximately 220,000 tonnes of BCTMP and 140,000 tonnes of kraft paper.[9][10]

Operations or offices are located in: Bear Lake, BC Camden, SC Chetwynd, BC Conway, SC Darlington, SC El Dorado, AR Elko, BC Fort St John, BC Fulton, AL Graham, NC Grande Prairie, AB Hermanville, MS Houston, BC Jackson, AL Mackenzie, BC Moultrie, GA Myrtle Beach, SC Prince George, BC Radium, BC Taylor, BC Thomasville, GA Vanderhoof, BC Vavenby, BC Washington, GA Wynndel, BC. [11]

On November 15, 2018 Canfor announced that it had entered into an agreement to acquisition a 70% share of the Vida Group, a wood products company based in Sweden. The prior owners of Vida maintain a 30% share and manage day-to-day operations.[12]

Canfor formerly owned the Englewood Railway on Vancouver Island, but sold it to Western Forest Products in 2006.[13]

Canfor has 6,380 employees as of 2016.[14]

Canfor is a member of the Forest Products Association of Canada.

References
  1. https://www.canfor.com/docs/default-source/investor-relations/2020_cfp_year_end_fs82ec877dde9d68e68279ff0000b4a60a.pdf
  2. https://www.canfor.com/docs/default-source/investor-relations/2020_cfp_year_end_fs82ec877dde9d68e68279ff0000b4a60a.pdf
  3. https://www.canfor.com/docs/default-source/investor-relations/2020_cfp_year_end_fs82ec877dde9d68e68279ff0000b4a60a.pdf
  4. https://www.canfor.com/docs/default-source/investor-relations/2020_cfp_year_end_fs82ec877dde9d68e68279ff0000b4a60a.pdf
  5. https://www.canfor.com/docs/default-source/investor-relations/2020_cfp_year_end_fs82ec877dde9d68e68279ff0000b4a60a.pdf
  6. https://www.owler.com/company/canfor
  7. "Canfor CEO steps down amid shakeup". The Globe and Mail. 2007-03-31. Retrieved 2018-02-20.
  8. "Canfor - Lumber, Pulp, Paper & Sustainable-Wood Products". Canfor.com. Retrieved 13 August 2018.
  9. "Archived copy" (PDF). Archived from the original (PDF) on 2017-12-01. Retrieved 2017-12-01.{{cite web}}: CS1 maint: archived copy as title (link)
  10. "Archived copy". Archived from the original on 2012-11-03. Retrieved 2012-07-30.{{cite web}}: CS1 maint: archived copy as title (link)
  11. "Our Operations - Canfor's Manufacturing Facilities". Canfor.com. Retrieved 13 August 2018.
  12. "Canfor to acquire majority interest in vida group of sweden". Canfor.com. Retrieved 15 November 2018.
  13. "Values - Our Mission, Vision and Values" (PDF). Canfor.com. Retrieved 13 August 2018.
  14. "Workforce". Canfor.com. Retrieved 13 August 2018.
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